30-Day Federal Register Notice

30-day FR Notice for 3038-0085.pdf

Rule 50.50 End-User Notification of Non-Cleared Swap

30-Day Federal Register Notice

OMB: 3038-0085

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Federal Register / Vol. 84, No. 209 / Tuesday, October 29, 2019 / Notices
information collection and its expected
costs and burden.
DATES: Comments must be submitted on
or before November 29, 2019.
ADDRESSES: Comments regarding the
burden estimate or any other aspect of
the information collection, including
suggestions for reducing the burden,
may be submitted directly to the Office
of Information and Regulatory Affairs
(‘‘OIRA’’) in OMB, within 30 days of
this notice’s publication, by either of the
following methods. Please identify the
comments by ‘‘OMB Control No. 3038–
0102.’’
• By email addressed to:
OIRAsubmissions@omb.eop.gov; or
• By mail addressed to: The Office of
Information and Regulatory Affairs,
Office of Management and Budget,
Attention Desk Officer for the
Commodity Futures Trading
Commission, 725 17th Street NW,
Washington, DC 20503.
A copy of all comments submitted to
OIRA should be sent to the Commodity
Futures Trading Commission
(‘‘Commission’’) by any of the following
methods. The copies should refer to
‘‘OMB Control No. 3038–0102.’’
• By mail addressed to: Christopher
Kirkpatrick, Secretary of the
Commission, Commodity Futures
Trading Commission, Three Lafayette
Centre, 1155 21st Street NW,
Washington, DC 20581;
• By Hand Delivery/Courier to the
same address; or
• Through the Commission’s website
at http://comments.cftc.gov. Please
follow the instructions for submitting
comments through the website.
A copy of the supporting statement
for the collection of information
discussed herein may be obtained by
visiting http://RegInfo.gov.
All comments must be submitted in
English, or if not, accompanied by an
English translation. Comments will be
posted as received to http://
www.cftc.gov. You should submit only
information that you wish to make
available publicly. If you wish the
Commission to consider information
that you believe is exempt from
disclosure under the Freedom of
Information Act, a petition for
confidential treatment of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.1 The
Commission reserves the right, but shall
have no obligation, to review, prescreen, filter, redact, refuse or remove
any or all of your submission from
http://www.cftc.gov that it may deem to
1 17

CFR 145.9.

VerDate Sep<11>2014

17:05 Oct 28, 2019

Jkt 250001

be inappropriate for publication, such as
obscene language. All submissions that
have been redacted or removed that
contain comments on the merits of the
ICR will be retained in the public
comment file and will be considered as
required under the Administrative
Procedure Act and other applicable
laws, and may be accessible under the
Freedom of Information Act.
FOR FURTHER INFORMATION CONTACT:
Melissa D’Arcy, Special Counsel,
Division of Clearing and Risk,
Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW, Washington, DC
20581; (202) 418–5086; email: mdarcy@
cftc.gov, and refer to ‘‘OMB Control No.
3038–0102.’’
SUPPLEMENTARY INFORMATION:
Title: ‘‘Clearing Exemption for Certain
Swaps Entered into by Cooperatives,’’
(OMB Control No. 3038–0102). This is
a request for an extension of a currently
approved information collection.
Abstract: Section 2(h)(1)(A) of the
Commodity Exchange Act requires
certain entities to submit for clearing
certain swaps if they are required to be
cleared by the Commission.
Commission regulation 50.51 permits
certain cooperatives to elect not to clear
certain swaps that otherwise would be
required to be cleared, provided that
they meet certain conditions. The rule
further requires the reporting of certain
information if the exemption for
cooperatives is elected. This collection
pertains to information the Commission
needs to monitor use of the cooperative
exemption and assess market risk in
connection therewith. An agency may
not conduct or sponsor, and a person is
not required to respond to, a collection
of information unless it displays a
currently valid OMB control number.
On August 22, 2019, the Commission
published in the Federal Register notice
of the proposed extension of this
information collection and provided 60
days for public comment on the
proposed extension, 84 FR 43796 (‘‘60Day Notice’’). The Commission received
no substantive comments in response to
the 60-Day Notice. Accordingly, the
Commission continues to believe that
the burden estimates published in the
60-Day Notice are appropriate.
Burden Statement: The respondent
burden for this collection is estimated to
be as follows:
Respondents/Affected Entities: Parties
electing the cooperative exemption
under Commission regulation 50.51.
Estimated Number of Respondents:
25.
Estimated Average Burden Hours per
Respondent: 1 hour.

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57851

Estimated Total Annual Burden
Hours: 25 hours.
Frequency of Collection: On occasion;
annually.
There are no capital costs or operating
and maintenance costs associated with
this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: October 24, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019–23569 Filed 10–28–19; 8:45 am]
BILLING CODE 6351–01–P

COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities Under OMB Review
Commodity Futures Trading
Commission.
ACTION: Notice.
AGENCY:

In compliance with the
Paperwork Reduction Act of 1995
(‘‘PRA’’), this notice announces that the
Information Collection Request (‘‘ICR’’)
abstracted below has been forwarded to
the Office of Management and Budget
(‘‘OMB’’) for review and comment. The
ICR describes the nature of the
information collection and its expected
costs and burden.
DATES: Comments must be submitted on
or before November 29, 2019.
ADDRESSES: Comments regarding the
burden estimate or any other aspect of
the information collection, including
suggestions for reducing the burden,
may be submitted directly to the Office
of Information and Regulatory Affairs
(‘‘OIRA’’) in OMB within 30 days of this
notice’s publication by either of the
following methods. Please identify the
comments by ‘‘OMB Control No. 3038–
0085.’’
• By email addressed to:
OIRAsubmissions@omb.eop.gov; or
• By mail addressed to: The Office of
Information and Regulatory Affairs,
Office of Management and Budget,
Attention Desk Officer for the
Commodity Futures Trading
Commission, 725 17th Street NW,
Washington, DC 20503.
A copy of all comments submitted to
OIRA should be sent to the Commodity
Futures Trading Commission
(‘‘Commission’’) by any of the following
methods. The copies should refer to
‘‘OMB Control No. 3038–0085.’’
• By mail addressed to: Christopher
Kirkpatrick, Secretary of the
Commission, Commodity Futures
Trading Commission, Three Lafayette
Centre, 1155 21st Street NW,
Washington, DC 20581;
SUMMARY:

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57852

Federal Register / Vol. 84, No. 209 / Tuesday, October 29, 2019 / Notices

• By Hand Delivery/Courier to the
same address; or
• Through the Commission’s website
at http://comments.cftc.gov. Please
follow the instructions for submitting
comments through the website.
A copy of the supporting statement
for the collection of information
discussed herein may be obtained by
visiting http://RegInfo.gov.
All comments must be submitted in
English, or if not, accompanied by an
English translation. Comments will be
posted as received to http://
www.cftc.gov. You should submit only
information that you wish to make
available publicly. If you wish the
Commission to consider information
that you believe is exempt from
disclosure under the Freedom of
Information Act, a petition for
confidential treatment of the exempt
information may be submitted according
to the procedures established in § 145.9
of the Commission’s regulations.1 The
Commission reserves the right, but shall
have no obligation, to review, prescreen, filter, redact, refuse or remove
any or all of your submission from
http://www.cftc.gov that it may deem to
be inappropriate for publication, such as
obscene language. All submissions that
have been redacted or removed that
contain comments on the merits of the
ICR will be retained in the public
comment file and will be considered as
required under the Administrative
Procedure Act and other applicable
laws, and may be accessible under the
Freedom of Information Act.
FOR FURTHER INFORMATION CONTACT:
Melissa D’Arcy, Special Counsel,
Division of Clearing and Risk,
Commodity Futures Trading
Commission, Three Lafayette Centre,
1155 21st Street NW, Washington, DC
20581; (202) 418–5086; email: mdarcy@
cftc.gov, and refer to ‘‘OMB Control No.
3038–0085.’’
SUPPLEMENTARY INFORMATION:
Title: ‘‘Rule 50.50 End-User
Notification of Non-Cleared Swap,’’
(OMB Control No. 3038–0085). This is
a request for an extension and revision
of a currently approved information
collection.
Abstract: The Dodd-Frank Wall Street
Reform and Consumer Protection Act
(‘‘Dodd-Frank Act’’) amended Section
2(h)(1) of the Commodity Exchange Act
(‘‘CEA’’) to provide that it shall be
unlawful for any person to engage in a
swap unless that person submits such
swap for clearing to a derivatives
clearing organization if the swap is
required to be cleared. However, Section
1 17

2 1,600 × . 58 hour = 928 (the estimated total
annual burden hours).

CFR 145.9.

VerDate Sep<11>2014

17:05 Oct 28, 2019

2(h)(7) of the CEA, as added by the
Dodd-Frank Act, also provides that a
swap otherwise subject to the clearing
requirement is eligible for an elective
exception from clearing if one party to
the swap is not a financial entity, is
using swaps to hedge or mitigate
commercial risk, and notifies the
Commission, in a manner set forth by
the Commission, how it generally meets
its financial obligations associated with
entering into non-cleared swaps (‘‘EndUser Exception’’).
The Commission adopted
Commission regulation 39.6 to specify
requirements for electing the End-User
Exception, including the reporting of
certain information to a registered swap
data repository (‘‘SDR’’) or the
Commission. Following the publication
of Commission regulation 39.6, the
Commission recodified it as
Commission regulation 50.50 (17 CFR
50.50). The information reported and
collected under Commission regulation
50.50 is necessary as part of the overall
package of swap-related information
that must generally be submitted by
reporting counterparties to SDRs under
the Dodd-Frank Act. The Commission
uses this information to assess and
monitor the market participants electing
the End-User Exception to the swap
clearing requirement in order to prevent
evasion of the clearing requirement. An
agency may not conduct or sponsor, and
a person is not required to respond to,
a collection of information unless it
displays a currently valid OMB control
number.
On August 22, 2019, the Commission
published in the Federal Register notice
of the proposed extension of this
information collection and provided 60
days for public comment on the
proposed extension, 84 FR 43795 (‘‘60Day Notice’’). The Commission received
no comments in response to the 60-Day
Notice. Accordingly, the Commission
continues to believe that the burden
estimates published in the 60-Day
Notice are appropriate.
Burden Statement: The respondent
burden for this collection is estimated to
be as follows:
Respondents/Affected Entities:
Eligible entities electing the End-User
Exception under Commission regulation
50.50.
Estimated Number of Respondents:
1,600.
Estimated Average Burden Hours per
Respondent: 0.58 hours.
Estimated Total Annual Burden
Hours: 928 hours.2

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Fmt 4703

Sfmt 4703

Frequency of Collection: On occasion;
annually.
There are no capital costs or operating
and maintenance costs associated with
this collection.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: October 24, 2019.
Robert Sidman,
Deputy Secretary of the Commission.
[FR Doc. 2019–23568 Filed 10–28–19; 8:45 am]
BILLING CODE 6351–01–P

COMMODITY FUTURES TRADING
COMMISSION
Sunshine Act Meetings
11:00 a.m., Tuesday,
November 5, 2019.
PLACE: Three Lafayette Centre, 1155 21st
Street NW, Washington, DC, 9th Floor
Commission Conference Room.
STATUS: Closed.
MATTERS TO BE CONSIDERED:
Examinations and enforcement matters.
In the event that the time, date, or
location of this meeting changes, an
announcement of the change, along with
the new time, date, and/or place of the
meeting will be posted on the
Commission’s website at https://
www.cftc.gov/.
CONTACT PERSON FOR MORE INFORMATION:
Christopher Kirkpatrick, 202–418–5964.
TIME AND DATE:

Authority: 5 U.S.C. 552b.
Dated: October 25, 2019.
Christopher Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2019–23688 Filed 10–25–19; 4:15 pm]
BILLING CODE 6351–01–P

DEPARTMENT OF DEFENSE
Office of the Secretary
Defense Innovation Board; Notice of
Federal Advisory Committee Meeting
Under Secretary of Defense for
Research and Engineering, Department
of Defense (DoD).
ACTION: Notice of Federal Advisory
Committee meeting.
AGENCY:

The DoD is publishing this
notice to announce that the following
Federal Advisory Committee meeting of
the Defense Innovation Board (‘‘the
Board’’) will take place.
DATES: Open to the public Thursday,
October 31, 2019 from 09:30 a.m. to
12:00 p.m.
ADDRESSES: The meeting will be held at
the Georgetown University, Rafik B.
Hariri Building, Lohrfink Auditorium,
SUMMARY:

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